• Business

    ANZ’s four-day work week pilot success a “game changer” for how we work


    Joe Jiang |  July 5, 2023


    Successful trials of the four-day work week in Australia and New Zealand have signalled a need to transform the way we work to achieve sustainable benefits for the employee, the organisation and society, RMIT Professor Zhou (Joe) Jiang, explains.


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  • Finance

    Australian middle market continues to power ahead as the engine room of economy


    Mick Wright-Smith |  June 30, 2023


    Banks face several key challenges in lending to middle market companies, Mick Wright-Smith, Co-Founder and Partner, Epsilon Direct Lending explains.


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  • Digital transformation

    Embrace digital transformation now or risk falling behind


    Adrian Floate |  June 26, 2023


    Businesses of all sizes need to embrace digital transformation – especially in how they make/accept invoice payments and how this impacts cash flow – as a means of survival in today’s uncertain economic environment, Adrian Floate Managing Director of Spenda explains.


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  • Retail

    Retail recession will be life-changing for consumers


    First 5000 |  June 23, 2023


    According to customer experience expert, Lyndall Spooner of Fifth Dimension, the retail recession will be life-changing in a positive way for consumers. While brands are going under and there is blood on the streets, consumers will be the winners.


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  • Digital transformation

    SMES to benefit from staff training, digital investment


    First 5000 |  June 22, 2023


    Chartered Accountants Australia and New Zealand (CA ANZ) is encouraging SMEs businesses to act now if they want to benefit from a new tax incentive to train their employees and digitise their business.


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  • Cyber security Have your say

    ASIC invites Australian entities to assess their cyber resilience


    First 5000 |  June 21, 2023


    ASIC-regulated entities, including mid market businesses, publicly listed companies, other entities holding licences and authorisations, are invited to take part in a survey to measure cyber resilience in Australia’s corporate and financial markets. 


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  • Human resources

    Changes to pay secrecy explained


    Sean Melbourne |  June 14, 2023


    Penalties for pay secrecy clauses have been updated. Sean Melbourne from professional services company Source explains what employers and employees can and can’t do when it comes to pay secrecy.


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  • Superannuation

    Federal Government announces payday super from 1 July 2026


    First 5000 |  June 1, 2023


    The Albanese Government has announced it will require super to be paid at the same time as salary and wages from 1 July 2026.


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Latest News

  • Success without profit – the business of giving

    Virginia Harrison     |      October 29, 2010

    BIG on heart but light on funds, the not-for-profit sector faces a unique set of survival challenges. Find out how Margaret Flynn turned a $3,000 budget into revenues of more than $10 million and helped thousands of people in the process.

    Flynn is the CEO of CentaCare Wilcannia-Forbes, an organisation which provides communities with counselling, youth and family support, and work-based education and training programs. It services around 200,000 people in western NSW, scattered across an area than spans more than half of the state.

  • Fresh challenges require smart strategies for business growth

    Virginia Harrison     |      October 29, 2010

    ACCESS to finance and currency fears are among the key concerns for businesses as they seek to drive growth and position for an economic upturn.

    The Australian Industry/Deloitte Private survey Growth Strategies for Business found improving market share, forming alliances and taking part in mergers are the leading strategies businesses are implementing for growth.

  • New time calls for new rules – First 5000 puts the individual back in business

    Peter Fritz     |      October 25, 2010

    When I was a child I must have hated authority. It might have been because I was brought up in a Communist country where authority was pervasive.

    I never wanted to be run by anybody but myself and that has stayed with me.

    I believe people should not have to ask permission to do things, or to have their thoughts filtered through others. In Australia we have a democratic framework which allows people to live their lives more or less the way they want to.

  • First 5000 & the NSW economy

    Barry Buffier     |      October 25, 2010

    On Wednesday 20 October 2010 I had the pleasure of being invited to say a few words at the launch of First 5000.


    I was actually standing in for the Minister for Small Business Frank Terenzini, who had to attend to some urgent business at the last minute. It was a great pleasure, because First 5000 ties in perfectly with my normal role.


    This blog is based on the address I gave on the day.

  • Uncategorised

    Middle Business Syndrome

    Virginia Harrison     |      October 19, 2010

    Virginia HarrisonAustralia is suffering from a clear case of middle-business syndrome. A highly-profitable but largely disconnected segment of the economic landscape exists without a united voice, or space to engage with one another.

    Small business is often described as the engine room of the Australian economy, while large corporations wield their own brand of power. Both groups enjoy strong united voices that shape policy decisions.

    But what lies the middle? Wedged in between these two well-represented groups is an often overlooked slice of the business landscape.

  • Medium Enterprises to lead productivity boom through innovation

    Virginia Harrison     |      October 19, 2010

    Jonathan CoppelMid-size companies hold the key to boost Australia’s innovation record and narrow the global productivity gap, according to top-ranking economic official.

    Jonathan Coppel is the economic counselor to the Secretary-General of the Organisation of Economic Development (OECD), a role which contains a particular focus on preparing the OECD’s contributions to the G20.

    He said the small and medium-sized enterprises are “squarely on the G20 agenda”.

  • UPDATE: Don’t ignore the power of direct mail

    Virginia Harrison     |      October 19, 2010

    When was the last time you hand-wrote a letter?

    As we become increasingly tied to our computer and mobile screens, it’s easy to overlook traditional means of communication in favour of the instantaneous and often cheaper digital alternatives.

    But commercial insights firm Dun & Bradstreet warns businesses not to ignore direct mail in their marketing strategies.

  • Tax breaks not the recipe for economic growth

    Virginia Harrison     |      October 19, 2010

    Prof Beth WalkerMEDIUM-size enterprises are the poor cousins of big business with little policy influence, despite their powerful productive capacity.

    Professor Beth Walker from Edith Cowan University (ECU) School of Management argues both sides of politics have failed on business policy. Perhaps it’s time for a medium-enterprise caucus.

    “Neither side had any policy this election. They always talk about reducing the tax rate, but it’s such a tiny amount for most businesses. It doesn’t add up to much. They talk about putting in some small incentive. None of them came up with any new initiatives about how to get more productivity.” She said.

  • Getting old gracefully: how to prepare for the ageing workforce

    Virginia Harrison     |      October 19, 2010

    Adrian WalshBUSINESSES are in a race against time as more workers enter retirement and leave companies parched of skills, experience and resources.

    Managing Director of Adrian Walsh & Associates Adrian Walsh has provided human resources, consulting and business development services to the mid-size market for more than 20 years.

    He says employers underestimate the threat the ageing population will have on their business.

  • Beware the inside job

    Virginia Harrison     |      October 19, 2010

     


    Smaller businesses face a much higher chance of employee fraud than large organisations. Forensic accountant Arnold Shields tells how companies can minimise the risk of an inside job.

    The $20 million embezzlement by a former accountant of Clive Peeters which brought the electronics retailer to its knees sounded a fresh warning to management on fraud controls.

  • Price-fixing: Using technology to raise retail margins

    Virginia Harrison     |      October 19, 2010

    Michael WaymarkAt nearly eight o’clock on a Friday night a liquor-store owner scans his shelves and makes a competitive decision – time to bump the prices up 10 per cent.

    It’s a move many retailers execute at peak times, requiring manpower to print the updated labels and manually change them throughout the store.

    Imagine if with the press of a button, you could change all the prices across your store at once.

  • Invest in people and exploit digital tools to understand your customers

    Virginia Harrison     |      October 19, 2010

    Nicola FeeneyMarketing guru Nicola Feeney explains how mid-size companies can brand better.

    ‘Make sure you have a unsubscribe button’ is a key message marketing expert Nicola Feeney offers clients trying to come to grips with advertising in the digital age.

    Telling potential clients to ignore you might sound odd, but with more than two decades of experience Ms Feeney’s approach of ‘communicate, don’t stalk’ has paid dividends for scores of organisations.

  • Cafe OZ: OECD economist putting theory into practice

    Virginia Harrison     |      October 14, 2010

    Jonathon CoppelAfter decades spent advising on the economy Jonathan Coppel decided to roll up his sleeves and hit the frontline. 

    Several years ago the OECD economist launched Australian-themed bar Café Oz in his adopted home town of Paris

    “We saw the emergence of Irish bars in Paris and people would always say oh Australia, we’d love to go, but it’s just too far. So we thought we’d bring a bit to Europe.”

    It took nearly two years to get things off the ground, and Mr Coppel said getting investors on board was the hardest part.

  • To market, to market: tips and traps in commercialising an idea

    Virginia Harrison     |      October 14, 2010

    It’s every entrepreneurs dream. A killer business idea, a new product or specialised service, hits the market and finds instant success. 


    But the road from creative concept to genuine money-earner can be a rocky one.


    Intellectual property (IP) lawyer Geraldine Farrell specialises in the commercialisation of IP and technology.  As Special Counsel at Griffith Hack Lawyers, Geraldine sees plenty of ideas in their embryonic stage, along with the best and worst attempts at taking an idea to market.


    She spoke to First 5000 what to look out for on the pathway to commercialisation:

  • Human Capital Matters

    Les Pickett     |      October 14, 2010

    Imagine you came to work tomorrow morning to find that the buildings, plant and equipment are all in place. The computer is chugging away collecting and processing data but there are no people. They have all gone.


    How much would it cost to replace your entire workforce? These are people with expertise, knowledge and experience. People with an understanding of your industry and your company. People with professional competence.


    Add to this the cost of lost profits and lost customers… the impact on your suppliers, shareholders and other stakeholders.